The Cash only days are long over, and the old-fashioned banks are finally catching on. Hey, they have to figure out a way to make money too, right?
While the strong dollar and rising home prices have deterred many foreign buyers in South Florida and across the country, more are turning to nontra-ditional mortgages to finance their home purchases.
Foreign buyers often pay cash for residential real estate in the U.S. – a whopping 50 percent did so in 2015, according to the National Association of Real-tors. Large cash deposits have also fueled Miami’s latest condo boom.
Read Katherine Kallergis’s The Real Deal’s article here:
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